Who are the economic winners and losers of the US-Israel war on Iran?

What the report says

Al Jazeera reported that six months after the US and Israel launched war on Iran, the conflict continues to affect global markets and is creating clear winners and losers across the economy. The article said the biggest beneficiaries include oil producers, defense contractors and major banks, while airlines, carmakers, taxpayers and poorer food-importing countries are among those bearing the costs.

According to the report, disruptions tied to the Strait of Hormuz and attacks on energy infrastructure pushed oil prices higher, lifting profits at companies including ExxonMobil, Chevron, TotalEnergies, Shell, BP and Saudi Aramco. Some regional firms were still hurt by the turmoil, with Abu Dhabi National Oil Company reporting a sharp drop in quarterly profit after sales were affected. The article also said volatility in markets boosted trading activity at banks, which helped large lenders such as JPMorgan, Bank of America, Citigroup, Wells Fargo, HSBC and Societe Generale post stronger earnings.

The piece said defense demand rose as the US and Gulf states replenished missile defenses and other weapons after heavy use against Iranian drones and missiles. It noted major Pentagon contracts with RTX and Lockheed Martin, while also pointing out that some defense stocks have not all moved higher. By contrast, the article said higher fuel and fertilizer costs have worsened food insecurity, and that airlines and automakers have been hurt by the broader disruption. Al Jazeera framed the war as a conflict with significant economic spillovers far beyond the Middle East.